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Finances Bad In Silicon Valley

More than one-third of Silicon Valley residents say they´re in worse financial shape than they were a year ago. But according to a new survey, most still believe their situation will stabilize or improve in 2002.

The inaugural consumer confidence survey of the region by San Jose State University also found that Silicon Valley consumers are more optimistic about a nationwide economic recovery than people elsewhere. But they´re less certain about how much such a rebound would be felt in the valley.

Unemployment in Santa Clara County was six-point-one percent in December. That fell from November but was still nearly five times higher than the December 2000 figure of one-point-three percent.